Devolver Digital has acquired Astroneer developer System Era Softworks in a deal worth up to $40 million. System Era broke the news in a blog post and described the move as an "amazing milestone" for both itself and Devolver.
Under Devolver, it'll be business as usual for System Era. The studio has pledged to "keep going on as before, only stronger" and will continue to support Astroneer. The company also has another project in development that has yet to be revealed.
In a separate press release sent out by European law firm, Fieldfisher, which is acting for Devolver on the acquisition, it was revealed the deal will cost the publisher up to $40 million. It also stated that Astroneer has generated over $87 million to date and attracted over 13 million players across its lifetime.
A total consideration of up to $40 million is to be satisfied by $22 million initial consideration, made up of $20 million cash on closing and $2 million of shares and cash to be issued and paid on the 12-month anniversary of closing, as well as $10 million deferred consideration, and up to $8 million potential earn out, both payable in cash and shares.
